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GEF Receives US$4.43 billion Funding from Donors

GEF Receives US$4.43 billion Funding from Donors

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The Global Environment Facility (GEF) recently received a US$4.43 billion pledge from 30 donor countries to support efforts in preventing the degradation of the global environment over the next four years.

The funding is intended to support projects that tackle a broad range of threats like climate change, deforestation, land degradation, toxic chemicals and waste, and threats to oceans and freshwater resources, among others, in more than 140 countries.

From Left: Bruno Oberle, Swiss State Secretary of the Environment, Naoko Ishii, CEO & Chairperson of the GEF, and Joachim von Amsberg, Vice President for Concessional Finance and Global Partnerships in the World Bank Group. (Photo from GEF)

From Left: Bruno Oberle, Swiss State Secretary of the Environment, Naoko Ishii, CEO & Chairperson of the GEF, and Joachim von Amsberg, Vice President for Concessional Finance and Global Partnerships in the World Bank Group. (Photo from GEF)

GEF CEO and Chairperson Naoko Ishii said that the decision is “a powerful signal from the global community about the importance of urgently reversing the negative environmental trends in order to ensure a sustainable future for everybody.”

Ishii added that she is extremely encouraged by the broad coalition that has come together behind the belief in GEF’s ability to play a critical role in helping achieve this transformation.

“The Global Environment Facility has gained the confidence of development partners for its strong track record in protecting the global environment and for its sound management of development partner funds,” said Joachim von Amsberg, Vice President for Concessional Finance and Global Partnerships in the World Bank Group, which serves as Trustee for the GEF.

Mexico’s Secretary of Finance and Public Credit, Luis Videgaray, who will host an Assembly of the GEF’s 183 members in Cancun, Mexico, in May, said, “Only by integrating environmental considerations into decision making by governments, private businesses and households can we hope to make a difference in the global environment. The GEF-6 effort gets under way at a critical time, and is a vital platform to help mobilize all stakeholders to play their part.”

(Story and photo courtesy of the Global Environment Facility. For the full news report, click here.)

Avatar of Coral Triangle Written by Coral Triangle

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